TC Energy (TSE:TRP) Given New C$67.00 Price Target at CIBC

TC Energy (TSE:TRP) (NYSE:TRP) had its price target raised by analysts at CIBC from C$66.00 to C$67.00 in a research note issued on Friday,BayStreet.CA reports. CIBC’s target price points to a potential downside of 1.60% from the company’s previous close.

Several other brokerages have also recently weighed in on TRP. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. BMO Capital Markets decreased their target price on shares of TC Energy from C$65.00 to C$55.00 and set a “market perform” rating for the company in a research report on Wednesday, October 2nd. National Bankshares boosted their price target on shares of TC Energy from C$60.00 to C$70.00 in a research report on Friday. Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from C$62.00 to C$78.00 in a research report on Friday, October 25th. Finally, Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$66.15.

TC Energy Trading Down 1.1 %

Shares of TC Energy stock traded down C$0.74 on Friday, hitting C$68.09. The stock had a trading volume of 924,674 shares, compared to its average volume of 7,000,457. The stock has a 50 day moving average of C$63.46 and a 200 day moving average of C$57.39. The firm has a market capitalization of C$70.81 billion, a P/E ratio of 20.58, a PEG ratio of 1.69 and a beta of 0.82. TC Energy has a twelve month low of C$43.83 and a twelve month high of C$69.61. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Sell-side analysts expect that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Transactions at TC Energy

In other TC Energy news, Director Richard Prior sold 3,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total value of C$132,000.00. In related news, Senior Officer Patrick M. Keys sold 17,127 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. Also, Director Richard Prior sold 3,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total value of C$132,000.00. Insiders have sold 76,114 shares of company stock valued at $4,704,641 over the last ninety days. 0.03% of the stock is owned by company insiders.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.